The financial and economic news is filled with articles and commentary on major federal tax reform in 2017. U.S. Treasury Secretary Steve Mnuchin has called President Trump’s tax proposals the “biggest tax cuts” in U.S. history. Just when these business tax, estate tax and income tax cuts will be enacted into law remains unknown. The political process to pass major tax reform is long and difficult. It requires ongoing cooperation by various political coalitions in Congress and the members of the Trump Administration.

BREAKING NEWS 4/27/17: Yesterday, the White House released an outline of President Trump’s tax reform plan.

The financial and economic news is filled with articles on major tax reform in 2017. Treasury Secretary Steven Mnuchin has called President Trump's tax proposals "the biggest tax cuts in U.S. history". Just when these business tax, estate tax and income tax cuts will be enacted into law still remains unknown. The political process to pass such major tax reform is long and tenuous. It requires cooperation by various political coalitions in Congress and the Administration.